Learn more about the role of relocation service providers

1. LEARN MORE ABOUT THE ROLE OF RELOCATION SERVICE PROVIDERS AND THEIR BOUTIQUE APPROACH TO SERVICE DELIVERY AND EMPLOYEE RELOCATIONS If you believe that relocation services are only about finding a home overseas for a newly assigned employee, this article is just for you. The truth is that relocation agencies offer an almost limitless range of services to international HR. Relocation services, as offered by professional relocation service providers, are primarily aimed at multinational corporations, assisting them in successfully transferring hundreds of thousands of people around the globe each year. The demand for international labor appears to be insatiable, especially in today’s global economy. A scarcity of local talent, expansion into new markets, and even acquisitions and merges are all important elements in the industry's success. Global employee assignments can include either establishing a new presence in a new place or joining an office in another country. Employee relocation is when a firm decides to relocate a new or existing employee from one area to another and will often lure them with advantages to assist make the transition easier and less expensive. Employees may be relocated for a variety of reasons, including filling an open position in another area, the opening of a new site, professional advancement, and other reasons. Corporate relocation and global mobility are critical duties that enable organizations to remain competitive in their search for top talent. The relocation industry exists to assist corporations in managing and relocating their finest and brightest employees to wherever they need to be to improve personal performance and corporate profitability. What are some of the benefits of using relocation service providers? Relocation service providers can be very beneficial to migrating employees, in the sense that they can assist with pre-decision counselling, departure and destination assistance, and household goods relocation (which can be via air freight, van line or rental truck). A relocation policy will typically outline employee relocation assistance or benefits. This removes any uncertainties and challenges from managing each relocation and ensures uniformity inside the company program. Whether a global relocation is temporary or permanent, all relocation-related expenses will almost certainly generate tax concerns in both the destination and departure countries. As a result, it is necessary to monitor the potential tax exposure from relocation reimbursements to file proper tax returns in both the old and new nation locations.

2. In addition to the tax filings necessary in the place of assignment, US citizens are obligated to file taxes on their global income, regardless of where it was earned. When an employee transfers out of the United States, they are still required to file a US Federal Income Tax return. However, the US provides a foreign tax credit that can be applied to the employee's return, which means that the amount payable in the US could be zero or minor, but they must still file. Why should employee relocations be outsourced to relocation service providers? During times of low traffic, HR experts might easily handle the relocation of a few critical personnel without the assistance of an industry expert. While these moves may have been a big lump payment with access to a preferred household goods carrier in the past, relocation best practices and the workforce sector itself have changed significantly. Nowadays, companies must have a worldwide relocation program that follows today's best practices while also maintaining up to speed on tax and regulatory standards in order to obtain the absolute best candidates for the position. Developing and successfully implementing a relocation program that competes in today's competitive international market is a difficult task that demands more understanding than ever before, which is why HR departments generally outsource the relocation process to relocation service providers. Before you even start searching for suitable relocation service providers, you and the other stakeholders in your company must specify exactly what you are looking for most in a supplier and consider whether the services they provide are based on a model that is aligned to help you achieve your talent management goals to the greatest extent possible. About Us At Relocation Coordinates International, our goal is to ensure that every client we serve gain all the benefits there is to opt for working with our highly experienced team. We offer customized solutions at an affordable rate to assist clients on a global scale. It is why you’ll always find that we devote all the time and resources needed to ensure that we address all the problems you might be facing during your relocation, may it be local or international. The pillars of our success are our excellent customer care, our go-getter attitude, and our out-of-the-box thinking when it comes to finding solutions to your concerns. Visit our website at http://www.relocationcoordinates.com/ or contact us directly and see how we can make your relocation easy.